Home Express definition

Home Express means mortgage loans that were originated by Aurora pursuant to underwriting guidelines that had less restrictive standards for mortgage loan applicants than for applicants of conventional mortgage loans. These guidelines included reduced documentation requirements (including the allowance of stated incomes), a streamlined documentation analysis (such as relying solely on credit score of the applicant for credit eligibility) and elevated loan-to-value ratios. These mortgage loans had primary mortgage insurance and pool insurance policy coverage, which insured the loans to a 50% loan-to-value ratio. As of January 2007, Aurora began classifying residential mortgage loans within two new servicing categories, “Conventional Alt-B Mortgage Loans” and “Scratch & Dent Mortgage Loans”. All mortgage loans that were classified prior to January 2007 as “Home Express” mortgage loans are from and after January 2007 classified as “Conventional Alt-B Mortgage Loans” or “Scratch & Dent Mortgage Loans”.
View Source

Examples of Home Express in a sentence

  • A "Competitor" shall mean (i) Bed Bath & Beyond, Inc., Strouds, Inc., Home Express Inc.

  • For purposes of Section 1.04(b)(xx), the Mortgage Loan Schedule shall include data fields specifying whether a Mortgage Loan is an ALS Home Express Mortgage Loan and the Seller of such Mortgage Loan to the Depositor.

  • A proposed settlement (the “Settlement”) has been reached in the Action, brought by two former employees (“Plaintiffs”) against C&B Delivery Service, dba Temco Warehouse & Distribution and Home Express Delivery Service, LLC, dba Temco Logistics (collectively “Temco” or “Defendants”).

  • Retired Chief Executive Officer of Naartjie Custom Kids, Inc., Burlingame, CA, a children’s apparel retailer, Chief Executive Officer of Home Express, Newark, CA, a retailer of home furnishings, and Chairman of the Retail Group at P▇▇▇▇▇▇▇-Van Heusen Corporation, New York, NY, an apparel and footwear company listed on the NYSE.

  • This sale is made by CIMB BANK BERHAD (“Assignee/Bank”) in exercise of the rights and powers conferred upon the Assignee/Bank pursuant to a Home Express Loan Agreement And Deed of Assignment Both Dated The 21st Day of July, 2000 executed by ▇▇▇▇ ▇▇▇ Yaw and ▇▇▇ ▇▇▇▇ Teck (“Assignors/Borrowers”) in favour of the Assignee/Bank and is made subject to all conditions and category of land use, express and/or implied and/or imposed upon and/or relating to and/or affecting the Property.

  • A "Competitor" shall mean (i) Bed, Bath & Beyond, Stroud's, Home Express, Pacific ▇▇▇▇▇▇, Lee Jay Bed & Bath, Linens too ▇▇▇▇▇, 3D Linens, Home Place, Home Goods, Sears, and JC Penney and (ii) any other corporation or other entity or start-up corporation or entity that is engaged in any business in the United States in which the Company or any Subsidiary was engaged during the Term of Employment and is engaged at the time in question.